Bears Power was authored by Alexander Elder. Bears Power is the difference between the current low and the 13-period exponential moving average. The user may change the input (midpoint), method (EMA) and period length. This indicator’s definition is further expressed in the condensed code given in the calculation below.
How To Trade Using Bears Power
No trading signals are calculated for this indicator.
How To Access in MotiveWave
Go to the top menu, choose Study>General>Bears Power
or go to the top menu, choose Add Study, start typing in this study name until you see it appear in the list, click on the study name, click OK.
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//input = price, user defined, default is Midpoint
//method = moving average (ma), user defined, default is EMA
//period = user defined, default is 10
//index = current bar number
low = getLow(index); ma = ma(method, index, period, input); Plot: bp = low - ma;